Which is not a benefit from specialization and trade?
A. World output is increased.
B. The range of goods and suppliers is increased.
C. There is more competition.
D. All of the choices are benefits from specialization and trade.
D. All of the choices are benefits from specialization and trade.
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A small country is an international borrower and its domestic demand for loanable funds increases. Consequently, the equilibrium quantity of loanable funds used in the country ________ and the country's international borrowing ________
A) does not change; increases B) does not change; does not change C) increases; increases D) increases; does not change
Which of the following ensures full employment in the Classical model?
A) Wage and price flexibility B) The equation of exchange C) Inventory adjustment D) Constant velocity
Economists who favor activist monetary policy argue that
A) the economy does not always equilibrate quickly enough at the Natural Real GDP or full-employment output and therefore needs help. B) activist monetary policy is effective at smoothing out the business cycle. C) activist monetary policy is flexible and flexibility is a desirable quality in monetary policy. D) a and b E) a, b and c
The federal government could stimulate investment spending by
A. phasing out the depreciation allowance on corporate income taxes. B. reducing subsidies to businesses. C. reinstating the windfall profits tax. D. reducing the tax rate on capital gains.